KeyBank 2015 Annual Report Download - page 218

December 31, 2014
in millions Level 1 Level 2 Level 3 Total
ASSET CLASS
Equity securities:
Common — U.S. $ 161 — — $ 161
Common — International 10 — — 10
Debt securities:
Corporate bonds — U.S. — $ 43 — 43
Corporate bonds — International — 7 — 7
Government and agency bonds — U.S. — 253 — 253
Government bonds — International — 1 — 1
State and municipal bonds — 1 — 1
Mutual funds:
Equity — U.S. 18 — — 18
Equity — International 28 — — 28
Fixed Income — U.S. 2 — — 2
Fixed Income — International 2 — — 2
Collective investment funds:
Equity — U.S. — 28 — 28
Equity — International — 118 — 118
Convertible securities — 45 — 45
Fixed income securities — 16 — 16
Short-term investments — 31 — 31
Real assets — 113 — 113
Insurance investment contracts and pooled separate accounts — — $ 14 14
Other assets — — 66 66
Total net assets at fair value $ 221 $ 656 $ 80 $ 957
The following table shows the changes in the fair values of our Level 3 plan assets for the years ended
December 31, 2015, and December 31, 2014.
in millions
Insurance
Investment
Contracts and
Pooled
Separate
Accounts
Other
Assets Total
Balance at December 31, 2013 $13$62$75
Actual return on plan assets:
Relating to assets held at reporting date 1 4 5
Balance at December 31, 2014 $14$66$80
Sales — (14) (14)
Balance at December 31, 2015 $ 14 $ 52 $ 66
Other Postretirement Benefit Plans
We sponsor a retiree healthcare plan in which all employees age 55 with five years of service (or employees age
50 with 15 years of service who are terminated under conditions that entitle them to a severance benefit) are
eligible to participate. Participant contributions are adjusted annually. Key may provide a subsidy toward the cost
of coverage for certain employees hired before 2001 with a minimum of 15 years of service at the time of
termination. We use a separate VEBA trust to fund the retiree healthcare plan.
The components of pre-tax AOCI not yet recognized as net postretirement benefit cost are shown below.
December 31,
in millions 2015 2014
Net unrecognized losses (gains) $ (5) $2
Net unrecognized prior service credit (3) (5)
Total unrecognized AOCI $ (8) $ (3)
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